Category: Learn Bookkeeping
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All the Things a New Bookkeeping Student Needs to Think About for Career Success
Essential Bookkeeping and Accounting Principles Strong bookkeeping and accounting principles form the foundation for accurate financial records and successful business management. These core concepts include understanding how bookkeeping differs from accounting, mastering the fundamental accounting equation, recognizing different account types, and applying double-entry methods correctly. Understanding the Difference Between Bookkeeping and Accounting Bookkeeping involves recording…
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Why Should I Take Control Of My Business Accounts?
Why You Need to Take Control of Your Business Accounts In the UK, HMRC is preparing to introduce compulsory quarterly accounting periods for all businesses in the near future. This change means that every three months, business owners will need to know their exact financial position. Accurate, up-to-date bookkeeping will no longer be optional—it will…
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On Journals And Ledgers
It’s been an incredibly busy month here on Accounting for Everyone, with many wonderful new comments on the various weeks’ course material. It took me many years to really understand double-entry. I did it by reading all the books I could get my hands on, and talking to thousands of business owners, oh, and the…
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Bad Debts
Every business will suffer from a bad debt at some point in its life and this short guide will show you how to account for them in your business. A bad debt is where a customer does not pay you for work done. That could be for many reasons: Bankruptcy Refuses to pay Disputes your…